This company is a joint endeavor. The collusion framed by State Bank of India (SBI) and BNP Paribas Cardif S.A.(BNP Paribas Cardif). In which SBI owns 70.1% of the aggregate capital and BNP Paribas Cardif holds 26%, the rest of 1.95% is shared by Value Line Pte. Ltd, MacRitchie Investments Pte. Ltd each.

Granted as 'Life Insurance Company of the Year' in 2016

In 2016, SBI Life Insurance was granted as 'Life Insurance Company of the Year' and 'Bancassurance Leader Life Insurance (Large Category)' at the Indian Insurance Awards. SBI Life offers the scope of life insurance products to provide food distinctive segments according to their need. SBI life offers both Individual and Group plans.

Interesting Facts about SBI Life Insurance

SBI Life has a novel multi-distribution display including bancassurance, retail organization, institutional union, and so on.

Organization Channel, comprising of more than 80,000 Insurance Advisors

Granted as 'Life Insurance Company of the Year' in 2016.

Benefits of Buying SBI Life Insurance Plans

Money related Protection - Provides monetary security to your family.

Claims Settlement - 23,000 branches across the nation to give guarantee settlement support.

Adaptability - Flexible premium and payout options.

Online plans - Specifically designed online plans that cost lower

Types of SBI Life Plan

SBI Life insurance offers the scope of life insurance products with variants to give money related assurance against life's uncertainties.

Plans advertised:

SBI Life Unit Linked Insurance Plans (ULIP)

SBI Life Protection (Term) Insurance

SBI Life Savings Plans

SBI Life Investment Plans

SBI Life Retirement Plans

SBI Life Child Plans

SBI Life Unit Linked Insurance Plans (ULIPs)

Unit Linked Insurance Plan is one of the money related products offered by SBI Life which is a blend of insurance and investment. They are connected to the market. This way these products offer returns on investment and life insurance cover. The piece of the premiums is invested in market - value, debts, crossover, based on the investor's decision which helps to manufacture funds. What's more, some portion of the premiums is kept to give life cover.

Features

The best of both the world - insurance and investment in one basket

Some portion of the premiums are invested while another part is used for giving the inclusion

Each arrangement offers returns on development

In case life assured dies amid the term, the sum assured is paid to the candidate

An alternative to surrender or halfway pull back ULIPs

Tax reductions according to Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

SBI Life types of ULIPs:

SBI Life - Smart benefit

Alternative of customary, restricted, and single premium installment policies are accessible. The decision of 8 distinct funds with no premium assignment and policy administration charges with boundless free switches.

SBI Life - eWealth Insurance

Programmed Asset Allocation with the decision of two plans - Balanced and Growth. No premium portion and policy administration charges. Normal installment mode choice and sum assured as 10 times of annualized premiums.

SBI Life - Smart Wealth Builder

The alternative of normal, constrained and single premium installment policies. Policy Term can be 10, 15 to 30 years. Offer the alternative of 7 funds. Ensured Additions of up to 125% of one yearly premium after the tenth year of policy for a policy term of 30 years under ordinary premium installment policy.

SBI Life Insurance is one of the best life insurance company.